Securities (Tables)

9 Months Ended

Sep. 30, 2012

Securities [Abstract]

Amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale

The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:

(In thousands)	Amortized cost		Unrealized gains		Unrealized losses		Estimated fair value
September 30, 2012
U.S. Treasury	$	63,747	$	915	$	-	$	64,662
Federal Agency		294,503		1,655		-		296,158
State & municipal		87,786		4,718		-		92,504
Mortgage-backed		264,073		15,523		-		279,596
Collateralized mortgage obligations		440,383		6,504		-		446,887
Other securities		8,711		2,668		79		11,300
Total securities available for sale	$	1,159,203	$	31,983	$	79	$	1,191,107
December 31, 2011
U.S. Treasury	$	81,006	$	1,228	$	-	$	82,234
Federal Agency		254,983		879		16		255,846
State & municipal		99,176		5,624		11		104,789
Mortgage-backed		310,767		14,629		-		325,396
Collateralized mortgage obligations		459,067		6,458		51		465,474
Other securities		8,935		2,021		76		10,880
Total securities available for sale	$	1,213,934	$	30,839	$	154	$	1,244,619

Amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity

The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:

	Amortized		Unrealized		Unrealized		Estimated
(In thousands)	cost		gains		losses		fair value
September 30, 2012
Mortgage-backed	$	1,252	$	203	$	-	$	1,455
State & municipal		60,050		896		-		60,946
Total securities held to maturity	$	61,302	$	1,099	$	-	$	62,401
December 31, 2011
Mortgage-backed	$	1,447	$	213	$	-	$	1,660
State & municipal		69,364		1,174		-		70,538
Total securities held to maturity	$	70,811	$	1,387	$	-	$	72,198

Investment securities with unrealized losses

The following table sets forth information with regard to investment securities with unrealized losses at September 30, 2012 and December 31, 2011:

	Less than 12 months							12 months or longer							Total
Security Type:	Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions
September 30, 2012
U.S. Treasury	$	-	$	-			-	$	-	$	-			-	$	-	$	-			-
Federal agency		-		-			-		-		-			-		-		-			-
State & municipal		-		-			-		-		-			-		-		-			-
Mortgage-backed		-		-			-		-		-			-		-		-			-
Collateralized mortgage obligations		-		-			-		-		-			-		-		-			-
Other securities		-		-			-		169		(79	)		1		169		(79	)		1
Total securities with unrealized losses	$	-	$	-			-	$	169	$	(79	)		1	$	169	$	(79	)		1
December 31, 2011
U.S. Treasury	$	-	$	-			-	$	-	$	-			-	$	-	$	-			-
Federal agency		34,996		(16	)		3		-		-			-		34,996		(16	)		3
State & municipal		957		(10	)		3		377		(1	)		2		1,334		(11	)		5
Mortgage-backed		-		-			-		-		-			-		-		-			-
Collateralized mortgage obligations		27,368		(51	)		3		-		-			-		27,368		(51	)		3
Other securities		645		(76	)		2		-		-			-		645		(76	)		2
Total securities with unrealized losses	$	63,966	$	(153	)		11	$	377	$	(1	)		2	$	64,343	$	(154	)		13

Contractual maturities of debt securities

The following tables set forth information with regard to contractual maturities of debt securities at September 30, 2012:

(In thousands)	Amortized cost		Estimated fair value
Debt securities classified as available for sale
Within one year	$	26,616	$	26,807
From one to five years		262,685		265,541
From five to ten years		273,272		282,328
After ten years		587,919		605,131
	$	1,150,492	$	1,179,807
Debt securities classified as held to maturity
Within one year	$	24,501	$	24,577
From one to five years		27,735		28,476
From five to ten years		6,380		6,459
After ten years		2,686		2,889
	$	61,302	$	62,401